tv Conscious Capitalism CSPAN October 21, 2013 1:15am-1:41am EDT
should do it a and i am glad i did not miss it so part of it is for my little girls. >> host: why did you move to singapore? >> i want them to know a.j. and speak mandarin the 19th century was a century of the u.k. the 20th was the united states a 21st will be the century of patients so i am trying to prepare them for the trustee first century their board 2003 and 2008 so review their said they would learn a share it will not make them successful but it would give them a leg up into the 21st century. >> host: new rights empires always overreach and overspent. >> guest: that is a simple statement i of moisture under the impression that everybody knows that but
unfortunately most people are not but it is an unfortunate fact of history something else to understand that empire's mail just like the stocks or companies fail >> host: staggering debt loads of even the changes of the way real live and work many institutions are political parties even nations will decline or collapse or simply disappear as has always happened in times of political economic turmoil. >> guest: day happens to be true lehman brothers was around when i did 50 years. bear stearns over 80 years. disappeared. gone. just like that. universities, its institutions it will be a mess there are too many people running up too much debt in somebody has to pay
it in the end. >> host: is in singapore more highly regulated? >> guest: no no. with the economy is one of the most open and free economies in the world is now a gets the bad reputation you cannot even chew gum he can't -- you can buy it you cannot spend it on the streets or put it under the of bus seats they don't like that if you ever go it is a very clean nation in a like people throwing garbage on the street or spitting. >> host: doesn't have its own currency your federal reserve system? >> nearly every nation does these days it does have a central bank because it is 5 million people it doesn't
have the influence of world affairs such as the united states now it has been the most successful country nobody has done as good a job as they have and they had huge reserves but no matter how influential or correct fave maybe they cannot influence to many other people. >> you write ben bernanke look at the numerous projections and it quickly becomes evident he is seldom writes about anything. >> i could sell them in there to be safe he has never been rights if you can show me that i would give him credit for the poor man. he is a professor who doesn't have a clue he
doesn't understand care's your finance he just understands printing money in that will be the ruin of us before that is over. >> host: you have a date? as we are taking this the market is at a record high. >> he will leave early 2014 so he tries to get out before it collapses so i guess of after the early 2014 if i were a betting man i would say maybe 2015 it will all start to come apart at the seams but they keep printing more money that is wonderful the people who get the money are having a fabulous time but the rest of us it will be a disaster you cannot have the artificial system based on the lake of printed many it
will end very badly for all of us. be careful before the next presidential election be very, very careful. >> host: the united states graduates over 200,000 nba per year as opposed to 5,000 a newly in 1958. this is a waste. why? >> first of all, we don't need that many. >> no deals had any we don't need 300,000 america was the richest most powerful country in the world now we are the largest debtor they have not done much for the united states but now have massive over complication with huge leverage in the government comes down hard
also getting an mba will be a terrible mistake. >> host: is there a politician today projecting the right message? >> guest: rand paul's certainly understands most of what is going on in the world. jim bunting who was a senator from kentucky did be used to launder senator but there is not many. america is now the largest debtor in the history of the world the whole history the united states is the largest debtor nation in history and the debt is going higher. that is not a very good record show me someone who has been against that ice would say we need more of him or her. >> host: the most recent book "streets smarts" adventures on the road and in the markets" of jim rogers published by crown
profit maximization for shareholders that is something in the economist created this is about thinking in a more realistic way and a successful a gray business with a maximum of higher purpose trying to do something in the world to pave the value in a certain way that only to customers with a society at large but with the value creation not just in terms of shareholders but think of all of the stakeholders for business focusing on creating values to earn a business focusing on creating values to earn a living but also for the customers with the policy of their lives. is for their lives and communities in the environment to do a for all
stakeholders that doesn't require a trade-off that says you can simultaneously enhanced if you think about it creatively an a traditional way so these businesses tend to reject that but they are motivated by the first and foremost, to all the stakeholders in driven by personal enrichment with our mission there in leaders in these kinds of businesses have the culture of authenticity transparency and most importantly, love and care. a lot of businesses like that fear and stress for what they need to get people to work hard to keep them
motivated. they realize it is not about that. of his went thin air in it eternity from getting autonomy and have a the opportunity to grow in their worth. not even a job for a career by calling. but what came a few years ago terms of endearment to create multiple kinds of value it turns out these outperform the market with the nine sleighs one ratio now we have five more years of data it is 10.5 / one. it is not say you have to
squeeze your customers or employees. no need to do any of that. thaw that is where i think the power and beauty is a way to think of it. >> host: day you think "conscious capitalism" is the evolutionary step in the capitalist system? >> in a way. in the beginning when business used to have a well-defined moral. with businesses that were created and in many cases came from the background but over time that was taken now to then as they started to have the cooperation for possibilities it was narrowed down the missile is
maximize your value. that is lost in the process. we lost the moral and ethical spiritual dimension of work. it is a fundamental thing that the cornerstones of our humanness we are completely devoid of any caring or feeling of the power of love and we as human beings the world is changing quite dramatically. would come in several test change. with the collapse of communism with free market economies but also the oil spills the invention of the road wide web -- the world
wide web also interestingly a democratic threshold with more households though teeing above 48 them below. that means society as a whole is driven by the midlife values that have more meaning and purpose and what type of legacy will leave behind it is less about self or materials. we're also becoming more connected we're faithful with over 1 billion members but we are woven together into this seamless fabric we know everything that is going on and can share and we're becoming more intelligent that shows the human eye q is that every 10
years over the last few decades. so that average person with a 100 i.q. today are up in the top 2% of intelligence at xavier genius. also all much mind -- much more education. and the impact is most traumatic with higher access to education that is now 16% or more at the college level even higher at the graduate school level. that means every white-collar professions is statistically dominated to fundamentally transform the nature survives the feminine values with the feminist culture of a tree in caring relationships, long term
thinking with the bedouin outcome without the masculine approach to competition and winning. the last part is our journey of raising consciousness. everywhere in the world. but now we cannot imagine it if we go back. everywhere in the world we cannot imagine that. but when a fella all kinds of child labor. but things are changing rapidly. with the evolutionary market of higher consciousness consciousness, that that is acceptable in the future i think that's standard will evolve a.
of so the key thing for business is the operating system went back in the industrial age based on the metaphor but quit the new reality people are very different arne third different what motivates us is very different. almost everything how to motivate people. >> host: professor raj sisodia how does "conscious capitalism" fit in with libertarianism? >> if you look at the subtitle, liberating the heroic spirit of business" i think that is what the conference is about the celebration of economic freedom.
in our society we tend to to look down on business that is about selfishness and exploitation is therefore the more you can be selfish the more successful you can be even that is not true. but the larger printers are the real creators. they elevate humanity with a credo is based on the creation of value. based on voluntary exchange. i cannot force you to do anything bu i cannot force you to do anything but more than bad the elevates our existence says zeros to human history most of humanity basically
that there is no place to explore what it means to be human end with the last two centuries with $508,000 the life expectancy has dropped where it has gone up so many people now can explore art and literature. the plan is used to be molten of one-out it sings opera. where does that come from? people have the ability to engage him lastly it is heroic because unless people out of poverty the religious and organizations cannot sustain the boom of people out of poverty bacon of short-term emergency but not the need for people but just in the last year's the
500 million chinese many others have seen their lives fundamentally altered. but it is the spread of freedom and democracy. we are aligned with what it is about but you can make a better. business is fundamentally dead with security and free market and cody capitalism or all of the distortion but with a higher consciousness the potential to a higher level the new see the interconnectedness as though living organism, not the machine. a living thing that needs to flourish and when it does it creates all kinds of things in the world.
specially they are in africa right now. >> key is the co-founder and colosio of whole foods it is what we talk about "conscious capitalism". >> host: how does whole foods fit into those tenets? >> what do we believe did and what do we try to do? with the original name which is the play on safeway they said there is a safer way for you to eat food that is more natural and whole with less artificial ingredients. the fundamental promise to educate people what you put into your body makes a difference with their health
on the planet and the food system. it is that sense of purpose used to be 5.7%. the food spending used to be 15 percent now it is a percent. but we are paying for it. so their purpose is to drive them why they exist not just another retailer trying to seoul agrees but secondly if they look at as interconnected but the declaration of interdependence that we all are interdependent and interconnected.
and therefore when we make decisions paribas consider the consequences not that we need to improve the margins what are the consequences for all? to come up with the win/win win for the stakeholders. it is easy to find a trade off with the decision making is driven but with that you can come up with stats one of the highest whole foods of 19 times now for of publicly traded companies their ratio varies between 350 and 500 days to be 30 year for darr 50 but it has risen dramatically of the
fundamental belief that front-line people are paid better with relatively modestly with the chief financial officer when make 2000 the other may make a million but there were people that are driven by purpose you care about the business not just a hired hand. said they are more inspirational and more successful. the internal culture then people look around talk about transparency. we can do that. and with equity.
>> when you do that you create that cycle of the diagram to start to create value those for customers who will then become loyal you don't need to spend a lot of money in marketing. looking for company use the don't spend much paillette they love them. others spend a lot of marketing but they don't trust them. they have high customer over so they don't have to spend money on ads or gimmicks or sales when you do that it leads to higher revenue in greater efficiency and higher margins of unhappy investors to allow the resources to donate to the
community for society but also invest back into gross. the highly profitable company one of the most successful companies out there the purpose is the surface they can have a greater impact because now they are $13 billion company said then they would have a greater positive impact heim it is defined by them but being profitable is important. >> host: professor raj sisodia how did you and john mackey getting hooked up? >> guest: i had a term of endearment and that started